What is Konnect? $KCT – Asia Crypto Today

Konnect is an Ethereum-based B2B duty-free infrastructure that uses a membership model to provide an enhanced ‘Online Merge with Online’ service or OMO.

Even with the revolutionary innovations that blockchain technology has already established, we have yet to see its full potential when it’s ready to evolve from its current form. But as early as now, various industries are fortunate enough to have a taste of its capabilities, including the global financial industry, which is now embracing the tech’s decentralized infrastructure. 

Background 

The Konnect platform is managed by Jun Seok Kim (CEO), Jürgen Kob (CMO), David Hong (CSO), Serena Yun (COO), Mark Jung (CTO), and their diversified team of experts. With the rising usage of the blockchain, the Konnect team aims to use its advanced capabilities to amplify global B2B transaction capabilities in order to provide better solutions for businesses and consumers. 

What is Konnect? 

Konnect is an Ethereum-based B2B duty-free infrastructure that uses a membership model to provide an enhanced ‘Online Merge with Online’ service or OMO. It’s a one-stop shop for e-commerce, non-fungible tokens (NFTs), and payment transactions, giving individual users and businesses instant access to these key digital services. 

KCT Token 

KCT token is the central piece of the platform’s membership model called ‘KCT membership,’ which aims to give participants with improved services. As a utility token, it provides holders with exclusive benefits, including large discounts on luxury goods, services, and other premium items from global brand partners. 

The KCT Foundation will use 1% of the total sales of its e-commerce platform to purchase KCT tokens and permanently burn them to increase their value. Another way to reduce KCT’s circulation is by encouraging members to stake/lock up their tokens through a series of valuable incentives. 

The team plans to gradually increase the functionality of the KCT token by including discounts and commission reductions to provide more benefits to its holders. Interested buyers can now 

purchase the token on Huobi, a world-leading crypto exchange. 

KCT Membership 

KCT membership provides members with different levels of online and offline benefits on services, including airline, shopping, accommodation, and medical assistance. Below is a part of the detailed terms of members’ benefits. Silver and Bronze levels are also available for users who may want to initially stake lower amounts of KCT tokens.

Konnect Membership Benefits: A Detailed Look 

Raffle Ticket (By Membership Level) 

Members can claim raffle tickets, which offers a chance to win the latest deals on the platform. Furthermore, high-level members have the opportunity to purchase limited edition items. 

PFP NFT and Mystery Box Level Increase 

Once users mint or buy a PFP NFT or a Mystery Box, they will also attain a certain level after the transaction. But as a perk of having a KCT membership, they can upgrade these levels to gain more benefits like receiving more valuable virtual and IRL items. 

Staking Rewards 

Members have a chance of receiving a staking reward offer, which they can use as a payment method on various transactions inside the platform. 

Major Components of the Platform 

Konnect E-Commerce 

Konnect E-Commerce provides discounts on both goods and services from Konnect’s long list of global partners. This component also ensures the authenticity of each and every single transaction by providing users with an ‘NFT certification.’ A user can gain this certification by confirming a purchase transaction and completing the delivery process. 

The NFT certification provides its holder with a ‘reliability seal’ when selling items on the platform, making it easy for buyers to find trusted sellers. After each P2P transaction, the NFT goes to the receiver, which will create a ‘reliability chain’ as the transaction continues to other members. 

Konnect Community 

Konnect Community merges E-Commerce and NFT Marketplace users, allowing them to interact and facilitate discussions about possible improvements to the ecosystem. Anyone who wants to join the Community must first attain specific requirements, including membership, purchased products, and other transaction-related matters. 

The Community also equips members with the capability to make global P2P transactions on verified products, further expanding their access to valuable items. It will also strengthen its communication channels to enhance the P2P transactions of its user groups. 

Konnect Finance 

Konnect Finance allows members to monitor financial information such as payment proceedings, KCT staking support, and, soon, decentralized finance (DeFi) transactions. It provides members with a KCT membership card for a smooth transaction with Konnect’s e-commerce and also for offline activities. 

The membership card can upgrade as a physical and chargeable prepaid card once registered users complete the platform’s KYC requirements. If a cardholder gains decent transaction records, Konnect will integrate crypto-based check and credit card support to expand the owner’s payment options when purchasing products. 

Owners can also use the card to check accumulated rewards, payment information, remaining digital assets, and other finance-related data. The team is considering adding DeFi and governance functionalities on the Konnect Finance to improve the payment experience of the Community. 

Konnect NFT Marketplace 

Konnect NFT Marketplace offers everything related to NFTs, including minting, trading, metaverse integration, and digital assets tradeable for luxury items. It provides NFTs with ERC-721 standards to provide users with access to third parties to further expand their benefits. 

Luxuriate to Earn NFT (L2E NFT) 

Luxuriate to Earn, or an L2E event, involves offering participants a chance to mint a mystery box, which is exchangeable for an authentic luxury item. This type of event aims to draw new participants to the KCT membership through interesting and irresistible digital and physical prizes. Also, by joining L2E events, participants can experience the Konnect platform’s user interface and familiarize themselves with its functionalities, which can increase their interest in joining the platform. 

PFP NFT 

PFP NFTs serve as good investments for members because they can trade these digital assets for authentic luxury products. The team also plans to make these virtual items compatible with other NFT platforms through third-party partnerships to bring more benefits to its holders. 

Conclusion 

By serving as a platform that links the digital and physical world, Konnect can potentially create a huge demand for its services as it can unlock the untapped benefits of both realms. 

The team has also recognized that blockchain technology can further expand, not only by focusing on digital services but by also bringing physical products into the equation.